Short positions in the futures market will be closed out one by one before the unlocking date, which means that the funding rate may reset to 0 or positive. Those who missed the October 9 unlocking deadline will likely unlock later in October, which will lead to further growth in liquid supply in November. In any case, the sheer size of the new supply is extremely large, and this is one of the most widely publicized unlocking events of the cycle, which, coupled with the impact of the OTC trade, may make the subsequent movement of the TIA even more confusing.